Vornado Realty Trust's Preferred Shares Set for Ex-Dividend Date

Vornado Realty Trust's preferred shares will trade ex-dividend on 3/17/25. Investors should prepare for a potential 1.86% drop in share price, while current yields remain attractive in the real estate sector. This development could impact investor sentiment.

Date: 13-03-2025

AI Rating: 6

Dividend Announcement
Vornado Realty Trust's 5.40% Series L Cumulative Redeemable Preferred Shares (VNO.PRL) are set to go ex-dividend on March 17, 2025. The quarterly dividend of $0.3375 corresponds to about 1.86% of the recent share price of $18.11. This implies that, barring any other market movements, VNO.PRL shares may open approximately 1.86% lower on the ex-dividend date.

The annualized yield of 7.45% currently offered by VNO.PRL compares reasonably to the average yield of 7.81% within the real estate preferred stock category. This suggests that while VNO.PRL may not exceed the average yield, it still provides a competitive return for investors in the current market.

Share Performance
In Thursday trading prior to the ex-dividend date, VNO.PRL shares showed a slight uptick of about 0.2%, contrasting with the common shares of Vornado Realty Trust (VNO), which experienced a decline of approximately 4.4%. This behavior may indicate that investors are prioritizing yields from preferred shares over the common stock ostensibly due to the volatility in the common shares.

While the provided report does not discuss specific financial metrics such as Earnings Per Share (EPS), Revenue Growth, Net Income, Profit Margins, Free Cash Flow, or Return on Equity, the information surrounding the dividends and potential performance can serve as a leading indicator for investor confidence and market sentiment with respect to Vornado Realty Trust.

Stocks: VNO